Bitcoin fell from about $60,000 to nearly $50,000 this week, but it has not deviated retail interest, according to Robbie Liu of OKEx.
The investment analyst cited renewed buying activity near the $50,000 level among retail investors, confirmed by the rising long/short ratio and the rising USDT premium in the Asian market. The long/short ratio compares the total number of users opening long positions versus those opening short positions.
Bitcoin climbed by more than 7 percent after testing $50,000-area as its support.
Bitcoin bounces off the $50,000 area. Source: BTCUSD on TradingView.com Bitcoin Futures Premium
Additionally, he highlighted BTCUSD0326, a large-volumed bitcoin futures contract expiring in June that now trades near the $56,200 levels,